Would paysites accept alternative payment options?

wig · 05-23-2003

BTW, regarding ATM billing, here is a similar solution and the story...

Currently, there is a product that allows a merchant at the POS to verify and perform a real-time debit via a checking or savings account.

However, there are two current snags:

1 - It is not scheduled to be released for non face-to-face transactions until later this year.

2 - It is dependent on the banks to code up to the initiative. Currently, it is only a handful of the top e-draw banks, so the coverage is well below 50% of the DDA accounts in the US.

The difference between this product and the ATM billing idea is that this one is real and that it will not remove the revocation rights of the consumer (as a PIN code does with an ATM card).

It will be a method to verify accounts and funds availability, as well as perform a real-time debit.

Rest assured that WTS will be offering this to our merchants as soon as it is available!

05-23-2003	#14
wig Members Join Date: Oct 2002 Posts: 1,248	BTW, regarding ATM billing, here is a similar solution and the story... Currently, there is a product that allows a merchant at the POS to verify and perform a real-time debit via a checking or savings account. However, there are two current snags: 1 - It is not scheduled to be released for non face-to-face transactions until later this year. 2 - It is dependent on the banks to code up to the initiative. Currently, it is only a handful of the top e-draw banks, so the coverage is well below 50% of the DDA accounts in the US. The difference between this product and the ATM billing idea is that this one is real and that it will not remove the revocation rights of the consumer (as a PIN code does with an ATM card). It will be a method to verify accounts and funds availability, as well as perform a real-time debit. Rest assured that WTS will be offering this to our merchants as soon as it is available!